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China Girds for War Impact
On Import-Reliant Economy

BEIJING -- Oil is looming large in China's concerns as it braces for the possible economic impact of war in Iraq.

An increasingly heavy reliance on oil imports has made China more vulnerable than many countries to a spike in oil prices and a disruption of supply. Indeed, some analysts attribute the rare trade deficit China posted for the first two months of this year to the rising cost of its oil imports.